Of course not. China's A-share market has a market value of over 20 trillion yuan and a GDP of over 30 trillion yuan. America's securities market is more developed. If the securities market is gambling, isn't it a big gamble for all mankind? Securities market is an important force to promote economic development, mainly reflected in its financing function, which can help enterprises that need funds to become bigger and stronger quickly, seize the market, develop better products, and make society develop faster.

Specific to the variety of securities, stocks and bonds all imply certain intrinsic value. Futures options have no intrinsic value. Bonds are equivalent to bank deposits and are the most conservative securities. Stock is a kind of marketable securities that can be produced, which is equivalent to a farm and generates a certain income every year. Obviously, the farm has certain intrinsic value. When the price of a stock is greater than its intrinsic value, it is overvalued, and when the price is lower than its intrinsic value, it is undervalued. Therefore, investors can judge whether a stock is worth investing according to its intrinsic value and price. The main function of futures option is hedging, and its basic investment principle is to predict the future trend of a certain variety. However, the future trend of any variety is closely related to macroeconomic and political policies. Although macroeconomics has a certain periodicity, it still lies in forecasting. So it can be said that futures options belong to gambling, while stocks and bonds do not. Buffett also said that all securities that cannot be generated are gambling.